CBIZ, Inc. (NYSE:CBZ) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in CBIZ, Inc. (NYSE:CBZ) by 24.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,842 shares of the business services provider’s stock after purchasing an additional 20,906 shares during the quarter. Edgestream Partners L.P. owned about 0.21% of CBIZ worth $7,122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneva Capital Management LLC bought a new stake in shares of CBIZ during the third quarter valued at approximately $19,037,000. Handelsbanken Fonder AB raised its stake in CBIZ by 2,333.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 292,000 shares of the business services provider’s stock valued at $19,649,000 after acquiring an additional 280,000 shares in the last quarter. Blair William & Co. IL raised its stake in CBIZ by 134.3% during the 2nd quarter. Blair William & Co. IL now owns 305,016 shares of the business services provider’s stock valued at $22,602,000 after acquiring an additional 174,825 shares in the last quarter. FMR LLC boosted its position in CBIZ by 27.4% during the 3rd quarter. FMR LLC now owns 594,660 shares of the business services provider’s stock worth $40,015,000 after acquiring an additional 127,822 shares during the period. Finally, Summit Creek Advisors LLC grew its stake in shares of CBIZ by 103.3% in the second quarter. Summit Creek Advisors LLC now owns 216,768 shares of the business services provider’s stock worth $16,063,000 after purchasing an additional 110,153 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

CBIZ Stock Performance

Shares of NYSE CBZ opened at $82.77 on Friday. CBIZ, Inc. has a 1 year low of $57.19 and a 1 year high of $86.36. The firm has a market cap of $4.15 billion, a P/E ratio of 35.07 and a beta of 0.91. The stock has a fifty day moving average price of $71.19 and a two-hundred day moving average price of $73.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.49 and a current ratio of 1.49.

CBIZ (NYSE:CBZ) last released its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The firm had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period in the previous year, the company earned $0.66 earnings per share. CBIZ’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that CBIZ, Inc. will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

CBIZ Company Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.